Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,762 shares of the construction company's stock after purchasing an additional 4,174 shares during the quarter. Martin Marietta Materials comprises about 2.0% of Douglass Winthrop Advisors LLC's portfolio, making the stock its 21st biggest position. Douglass Winthrop Advisors LLC owned approximately 0.32% of Martin Marietta Materials worth $102,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC raised its stake in Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after buying an additional 19 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after purchasing an additional 19 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock worth $307,000 after purchasing an additional 20 shares in the last quarter. Brooklyn Investment Group grew its position in Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after purchasing an additional 20 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company's stock worth $604,000 after purchasing an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Martin Marietta Materials Price Performance

Shares of MLM stock traded down $2.38 during mid-day trading on Tuesday, hitting $488.31. 361,074 shares of the stock were exchanged, compared to its average volume of 460,834. Martin Marietta Materials, Inc. has a 52-week low of $448.50 and a 52-week high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $29.77 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The firm has a fifty day moving average of $510.82 and a 200 day moving average of $539.41.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is presently 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stifel Nicolaus initiated coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They set a "buy" rating and a $559.00 price objective for the company. Barclays lowered their price target on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Truist Financial dropped their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. BNP Paribas cut Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, HSBC upgraded Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price on the stock in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $628.64.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.